News Code :
42748
VCM/STYRENE/PROPYLENE & ETHYLENE ANALYSIS. (22April)
Petrotahlil:
VCM: Down in Asia | Stable in Europe | Stable in US
• Spot VCM prices retreat by $30-40 in Asia
• VCM weighed by lower Asian PVC prices for May
• European VCM follows downstream PVC stable
• VCM supply still considered limited in Europe
• US VCM unchanged ahead of May PVC prices
• Lower Asian figures put pressure on US VCM
• Spot prices: CFR Far East Asia $660 | CFR Southeast Asia $700 | FOB NWE $690 | FOB USG $600-610
Styrene: Down in Asia | Up in Europe | Up in US
• Spot styrene in Asia retreats $10
• Volatility keeps Asian buyers on sidelines
• China’s local styrene market also down
• European styrene jumps $45-50
• Tighter supplies support price gains in Europe, US
• Spot prices: CFR China $1060 | FOB South Korea $1020 | Ex-tank Zhangjiagang $1068-1070 | FOB NWE $1130-1135 | FOB USG $1042-1053
Propylene: Stable in Asia | Up in Europe | Stable in US
• Asian spot C3 stable amid high crude, muted trade
• Propylene supply reported comfortable in Asia
• Spot C3 add to gains on strong upstream in Europe
• European prices stand at a 5-month high
• April C3 contracts fully roll over in US
• Prices stable in US on quiet spot activity
• Spot prices: CFR China $905 | FOB South Korea $865 | FD NWE €940-945 | FD USG $749-760
Ethylene: Down in Asia | Up in Europe | Down in US
• Asian spot C2 markets down $15-35
• Strong energy costs help cushion decreases in Asia
• C2 prices on CFR NE Asia basis hit 14-week low
• European C2 edges higher on tightening supplies
• Expectations for May C2 contracts call for €30-50 hikes
• US C2 resumes downtrend after a short-lived rebound
• Spot prices: CFR Northeast Asia $990 | CFR Southeast Asia $915 | FOB South Korea $930 | FD NWE €965| FD USG $281-292
